European Central Bank sources: No need to intervene in Italy crisis

Al corriente - Junio 02 201804:57

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European Central Bank sources: No need to intervene in Italy crisis

"The ECB could safeguard the remaining eurozone members but it would be merely controlling the disaster", one of the sources said. "That possibilities should not be ignored", said Minori Uchida, chief currency strategist at MUFG Bank.

The U.S. announcement pushed stocks lower, although a weaker yen supported Japanese stocks and firm exports boosted South Korean markets.

Hardy recalled a promise made in 2012 by European Central Bank President Mario Draghi to keep the euro intact. "I see a lot of uncertainty, which results in a lot of volatility".

Juncker said at a conference Thursday that "Italians have to take care of the poor regions of Italy".

Adding to the selling pressure was a brewing crisis in Spain, where Prime MinisterMariano Rajoy faces a no-confidence vote after his party was found guilty of benefiting from illegal funds in a massive graft trial.

The yield gap over benchmark 10-year German bond yields tightened to 223 basis points from around 242 bps late Thursday. Madrid's IBEX bourse was down nearly 2 per cent. The Nasdaq composite climbed 0.1 percent to 7,433.85.

The New Zealand dollar fell below 69 United States cents and dropped against the yen as Italy's political hiatus sent Italian bond yields soaring and prompted investors to look for safe havens.

The euro had spiked to US$1.1728 earlier on Monday after Italian President Sergio Mattarella rejected a vocal critic of the single currency as economy minister.

Mining companies and metals companies in the FTSE 100 are all on a rise this morning, a counter-intuitive move given that the U.S. threatened Thursday to start charging 25% tariffs on imports of aluminium and steel from Europe, Canada and Mexico. A day later, Trump said he had reconsidered, and officials from both countries were meeting to work out details.

The euro struggled near a 6-1/2-month low against the U.S. dollar on Tuesday, the bounce seen at the start of the week fading out as investors took a grim view of Italy seemingly heading towards another election. Yields move inversely to price.

Analysts will next focus their attention on US inflation data due later in the week which could provide clues to future interest rate rises ahead of the Federal Reserve policy meeting next month.

Earlier Tuesday, Asian stock markets closed mostly lower, with traders keeping an eye on oil prices, which have tanked since Saudi Arabia and Russian Federation indicated they could raise output after abiding by a self-imposed cap for two years. Germany's DAX lost 1.1 percent. Brent crude, used to price global oils, rose 0.6 percent to $75.80 per barrel in London.

Royal Bank of Scotland Group gained 1.6 percent after Standard & Poor's upgraded the long-term ratings of National Westminster Bank Plc. Gold and platinum producer Anglo American traded 2.76% higher at 1,846.60 while Rio Tinto, Glencore and Chilean miner Antofagasta were also among the top ten movers higher.

A spokesperson said about 2.8 million vehicles were under active recall, which meant auto owners had been or were being contacted. Airbags in 1.9 million cars had been replaced, however, 900,000 were yet to be completed.

He didn't say anything critical of Roseanne Barr's racist and conspiratorial tweets - the comments that got her fired on Tuesday. She singled out Wanda Sykes, the show's consulting producer, who had announced she would not return for season two.

Pliskova grabbed the mini-break and went into a 3-0 lead before the veteran hit back to win the next six and clinch the advantage. Two years has been a really long time since my last match on clay but I feel good.

The 34-year-old had faced a 12 month ban for the offence, which he claimed occurred after drinking contaminated "coca tea". Paolo Guerrero tested positive for a metabolite of cocaine at a World Cup qualifying game against Argentina in October.

Last year, it was reported that Philippine fast food chain Jollibee was about to make a bid for Pret, but no offer emerged. JAB also has controlling stakes in Krispy Kreme Doughnuts, Keurig Green Mountain, Peet's Coffee & Tea, Caribou Coffee Co.

The double gear system is fairly straightforward, but it alters the classic Mega Man formula in some pretty big ways. The same system can also let you power up Mega Man's arm cannon to deal out more damage.

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